Saudi non-oil private sector records highest demand since lockdown
Published 06 Jan,2021 via Asharq Alawsat (English Edition) - The Saudi non-oil private sector registered its best recovery rate in a year, that is, before the Kingdom’s adoption of the lockdown measures to prevent the outbreak of Covid-19.
An international indicator revealed that sales of the private sector in the Kingdom recorded a significant growth at the end of 2020, thanks to an increase in new businesses, which in turn boosts the process of overcoming the negative effects of the pandemic.
According to IHS Markit, the headline seasonally adjusted IHS Markit Saudi Arabia Purchasing Managers’ Index (PMI) rose to its highest reading for 13 months in December, up from 54.7 in November to 57.0, signaling a sharp improvement in operating conditions. In addition, the index marked a fourth successive month of expansion and was broadly aligned with its average level of 56.9.
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Asharq Alawsat